One of the leading manufacturers of wheel disks BBS filed bankruptcy because of a sharp drop in demand and business interruption due to pandemics
The consequences of a pandemic coronavirus infection continues to shake the automotive industry: this time the wheel manufacturer BBS has declared bankruptcy. According to the publication Autoevolution, the company filed a lawsuit in the district court, which stated that the possibility of maintenance bills and continue operating activities. The amount of debt is not called. According to financial analysts, the BBS will not cease to exist, but will undergo a major restructuring to stay afloat. The company has 1,200 employees.
BBS declares bankruptcy for the third time since its founding in 1970. In February 2007, a sharp rise in prices for aluminium for the first time led the company to bankruptcy and the sale of the Belgian holding company Punch International. Another bankruptcy occurred several years later: from 2015, the major shareholder of the BBS became the South Korean company NICE.